When you think of the legendary risk takers who pioneered the landscape of Las Vegas, names like Howard Hughes and Steve Wynn may first come to mind. However, it may strongly be argued that it was the youngest son of Armenian immigrant parents who risked it all many times over and made a huge impact over several decades on the explosive growth of Las Vegas.
Kirk Kerkorian, 88, majority stock-holder in MGM MIRAGE, the second largest gaming company in the world with its latest $7.9 billion takeover of Mandalay Resort Group, recently was listed as #19 on The Forbes 400 list of the Richest People in America with a net worth of $10 billion.
During an interview from his Beverly Hills office, various questions arose. Questions about his many successes, advice, what’s on the horizon, and might there be a book and/or a movie about his incredible life coming up soon, all were answered simply by Kerkorian with, "No book or movie coming up. I’m not one really to give advice, and feel free to talk to some of the others," were the cordial replies of the publicity-shy mogul. So, we will let some of Mr. K’s incredible achieve-ments speak for themselves.
Born June 6, 1917, in Fresno, California, the youngest of four children. Became an amateur boxer. In 1939, at age 22, he took his first flying lesson. During World War II, he risked his life delivering airplanes to the Royal Air Force from Canada for $1,000 a month. In 1947, he started Los An-geles Air Service, later named Trans International Airlines and chartered tourists to Las Vegas. Later sold his stake in TIA to TransAmerica for $85 million in stock.
In 1962, he bought 80 acres of land for $960,000, leased, then later sold it to Caesars Palace for $5 million. In 1967, bought more land for $5 million, built the 30-story, 1,512-room International Hotel, the largest hotel in the world. In 1973, purchased MGM, the famous movie studio, and opened the original MGM Grand. In 1993, he built the new 5,005-room MGM Grand Hotel. Three separate times, he built the world’s largest hotels in Las Vegas.
In 2000, MGM Grand bought Mirage Resorts. In 2005, MGM Mirage pur-chased Mandalay Resort Group and later announced their 66-acre, $5 billion CityCenter project consisting of three hotels, a casino resort and several high-rise luxury towers.
Perhaps a nice tribute to Kerkorian by Karen Hakobyan, a grateful student at American University of Armenia, can best shed some light on how his generosity has touched so many.
Kerkorian’s Lincy Foundation com-mitted $172 million to Armenia. So far, 20,000 local workers have been employed in projects, including high-ways, bridges, cultural institutions and housing. In the earthquake zone, 3,674 families who had been living in temporary shipping containers now are the proud and happy owners of their own modern living quarters. This presents a renewed hope and a true sense of optimism for the future.
Of all the contributions to the people of Armenia and the many others around the world, there is not one single brick or building with Kerkorian’s name on it, and that’s the way he wants it. With all his accomplishments, he is the last to toot his own horn and keeps his sharp focus on improving the lives of others, from America to Armenia.
Yes, Kirk Kerkorian, billionaire and philanthropist, is bullish on the future growth of Las Vegas and especially on the increasing possibilities currently under way at MGM MIRAGE.
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When you think of the legendary risk takers who pioneered the landscape of Las Vegas, names like Howard Hughes and Steve Wynn may first come to mind. However, it may strongly be argued that it was the youngest son of Armenian immigrant parents who risked it all many times over and made a huge impact over several decades on the explosive growth of Las Vegas.
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